Pharrell Williams Launches Black Ambition for Entrepreneurs
Pharrell Williams, award-winning producer and entrepreneur announced the launch of Black Ambition, a non-profit initiative that will provide a bridge to success for Black and Latinx entrepreneurs who are launching tech, design, healthcare, and consumer products/services start-ups. The non-profit says it is committed to leveling the playing field and fostering the ingenuity, determination, and resilience of underrepresented entrepreneurs. As part of the launch, Williams announced two prize competitions – The Black Ambition HBCU Prize and The Black Ambition Prize – which culminate in one major national event.
“Recent events and tragedies have illustrated the always existent stark divisions in the American experience, and while entrepreneurship has long been a tenet of the American dream, marginalized people have faced long-standing barriers to success,” said Williams. “With Black Ambition, the goal is to help strengthen the pipeline of talented entrepreneurs and close the opportunity and wealth gaps derived from limited access to capital and resources.”
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In partnership with historically Black colleges and universities [HBCU], The Black Ambition HBCU Prize will offer prizes and mentorship for current and former students at HBCUs as they develop seed or early-stage ideas and launch companies in tech, design, healthcare, and consumer products and services. The grand prize winner will receive up to a $250,000 prize and at least nine additional teams will receive smaller prizes.
In July 2021, the two competitions will culminate in teams competing for these prizes by presenting to luminary judges and investors. In addition to financial awards, the entrepreneurs will receive mentorship and feedback as well as access to peer networks and expert connections.
Black Ambition says its long-term vision is for inclusive entrepreneurship to be the new normal. The start-up will be led by an all-star advisory team, with support from The Bridgespan Group, a global nonprofit organization that advises mission-driven organizations, nonprofits, philanthropists and impact investors.
For more information visit www.blackambitionprize.com.
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